Tuesday, 31 July 2012

Btc-E was hacked which is another blow to the Bitcoin project as Btc-E is one of the more popular exchange. I loved to use Btc-E especially it gave a lot of choices of crytographic currency. It seemed that someone fraudulently entered a lot of USD and buy up the value of the Bitcoin until it spiked to over US$90. The situation is still unfolding. Best Wishes to Btc-E, may it resume operations asap.

This is a recommendation taken from the popular Bitcon forum:

1. Sell ALL USD immediately. There is definitely not enough USD to pay out.2. Withdraw ALL BTC
immediately. Unless fractional reserve or cold storage was employed,
there should be enough. This is confirmed by one of DeathAndTaxes's
experiments.3. Change passwords for other websites immediately. The database is likely to leak, if a SQL injection was the culprit.

Sunday, 15 July 2012

Please help me.I have 24,841 bitcoins on deposit with Bitcoinica.I have provided them with my full and complete account history including every transaction since day one.There is no question as to exactly how much I am owed. (I'm happy to provide proof to other trusted entities)I have patiently been asking for them for my money back for months, but they have refused to return even a single Bitcoin to me.

I'm a core Bitcoin proselytizer. I'm responsible partly or in full for:

There are on and off requests to dismantle Deepbit, not because it is no good but because it is too good and attracted too many of the miners until their share of the hashing power is dominant. As we know those who control more than 50% of the Bitcoin hashing power has the ability to manipulate the entire Bitcoin, once in a while there are talks in forums or suggestions to dismantle Deepbit. IMHO I do not think it is fair. Yes I do favor a pool that has lesser hashing power so that it will not be a threat to the Bitcoin. What I suggest is the rest of the pool operators improve upon their services so as to capture more hashing powers from the Deepbit pool rather than ask for Deepbit to be dismantled.

Sunday, 1 July 2012

Do upgrade to the latest Bitcoin Client 0.6.3, and it is always a good practice to backup your wallet during the upgrading.

Bitcoin version 0.6.3 is now available for download at:
http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.6.3/
This is a bug-fix release, with no new features.

CHANGE SUMMARY

==============

Fixed a serious denial-of-service attack that could cause the
bitcoin process to become unresponsive. Thanks to Sergio Lerner
for finding and responsibly reporting the problem. (CVE-2012-3789)
Optimized the process of checking transaction signatures, to
speed up processing of new block messages and make propagating
blocks across the network faster.
Fixed an obscure bug that could cause the bitcoin process to get
stuck on an invalid block-chain, if the invalid chain was
hundreds of blocks long.
Bitcoin-Qt no longer automatically selects the first address
in the address book (Issue #1384).
Fixed minimize-to-dock behavior of Bitcon-Qt on the Mac.
Added a block checkpoint at block 185,333 to speed up initial
blockchain download.